Medtronic Inc. Buys Diabetes Technology from PreciSense A/S

Medtronic Inc. has purchased all glucose monitoring assets from PreciSense A/S, a Horsholm, Denmark-based development company that focuses on continuous glucose monitoring (CGM) technology, which shows people their changing glucose levels in real time.

The announcement was made today during a webcast presentation on the state of Medtronic’s diabetes business unit and its strategic plan delivered by Chris O’Connell, diabetes business unit president and senior vice president at Minneapolis, Minn.-based Medtronic.

“This strategic acquisition is an effort to expand Medtronic’s already robust continuous glucose monitoring pipeline and to develop a new CGM platform to aid development of our ‘closed-loop’ system,” said O’Connell. “This potentially disruptive technology could significantly broaden the use of CGM and help improve diabetes care for more patients.”

Medtronic’s diabetes management system integrates CGM with insulin pump therapy, the MiniMed Paradigm REAL-Time Continous Glucose Monitoring System, which allows diabetes patients to deliver insulin and monitor their glucose levels. With trend graphs, directional arrows and alarms, the device also can alert patients to dangerously high and low glucose values and allow them to take preemptive action to manage their diabetes.

Using mathematical algorithms, Medtronic’s closed-loop system is being designed to continuously monitor glucose levels and automatically adjust insulin delivery in patients.

To listen to the complete webcast, go to http://investorrelations.medtronic.com/events.cfm.